The foreclosure crisis reaches a silent end | 2013-09-13 | HousingWire

Here's an article stating what I have been seeing for the past 6 months or so.  While I don't know that the Foreclosure crisis is over, I have found that the sellers that I have been dealing with aren't upside down in their mortgages.  Even as late as 2012, I was having discussions with potential sellers on what their options were if they were upside down in their mortgage;  Come to Closing with $$$, Shortsale, or Foreclose.  I am delighted to report that I am not having those conversations in 2013.  Let's hope the trend continues.

The foreclosure crisis reaches a silent end | 2013-09-13 | HousingWire

Here's the latest from Mpls Area Association of Realtors.  They predict that the market will remain stable.  I concur, barring no major negative economic news.  Inventory levels look good & my listings are Selling, Selling, Selling.  If you are remotely thinking about selling, now may be the time.  Give me a call & I will do a market for your home to see where things are at in your neighborhood.

Most economists expect the housing recovery to continue, even with rising mortgage rates.  New household formations & tight supply should keep bolstering markets & shield homeowners from downside price risk.  Price gains should inspire sellers to add new inventory to the market.  Although inventory & other metrics will begin to taper from seasonal highs, they are likely to remain above last year's levels.


In the Twin Cities region, for the week ending August 24:

• New Listings increased 15.7% to 1,485

• Pending Sales increased 17.8% to 1,144

• Inventory decreased 9.2% to 16,180

Check out this cool house that won the Remodeling Design Award 2013.  It's in San Francisco, but there are elements that could work great with smaller homes. Check it out.

Remodeler's Magazine; Remodeling Design Award 2013

Here's an interesting solution to a small space.  This was posted in Builder; Pantry Raid @ BuilderOnline.com.  Check it out.

 

Pantry Raid 

Sliding doors disguise kitchen storage.

By

Rachel Barron

 

Credit: Anice Hoachlander/HDPhoto

Contemporary Kitchen Renovation, Washington, D.C.

ArchitectBarnes Vanze Architects, Washington

Builder Artwork, Washington

 

With more and more clients requesting walk-in pantries, builders are forced to make them work in homes of all sizes. (According to the NAHB, at least 84 percent of all buyers consider a walk-in pantry essential or at least desirable.) In this clean, contemporary kitchen, builder Charlie Sleichter had to get creative because the powder room on the adjoining wall prevented building a bigger storage space.
This compact kitchen serves as an entertaining hub, so finding pantry doors that wouldn’t take up extra space posed yet another challenge. A barn door, rather than a hinged one, was just the thing, says architect Ankie Barnes. What’s more, these asymmetrical sliding doors work some sleight of hand, tricking the eyes into perceiving the pantry as centered on the wall. The storage space and its entry are actually positioned slightly to the right to accommodate the powder room plumbing.
Birch plywood with a clear varnish is hardy, looks fresh, and is easy on the wallet, says Barnes. Most important, sliding doors of birch plywood can handle frequent use. Their stainless steel rolling hardware is exposed and ends up being both functional and ornamental. The absence of pulls is intentional, Barnes says, because they would have upset the optical illusion. Design doesn't hinder function, however, as the doors open and close just fine with a push or a pull.

 

 

 

The Dog Days of Summer may be here, but the news continues to be GREAT for the housing market.  Love the increase of Median Sales Price, up 17.5% - WOW.  As for what I'm seeing, I have a couple more listings coming on the market & expect them to pop relatively quickly.  If inventory is priced right & in decent condition, IT WILL SELL (kind of "Field of Dreams"ish - build it & they will come). 

Here's Mpls Area Association of Realtors latest report.

 

Weekly Market Activity Report

Nationwide, local markets have become stable enough to withstand mortgage rate increases.  Improving job & other economic sectors have fortified real, organic housing growth.  Bargain-basement deals have given way to multiple offers, stiff bidding wars and lickety-split days on market.  Inventory may still be thin, but traditional home sellers are stepping up to the plate with new listings.  It won't be long now until the housing recovery is once again referred to as just housing.

 

For the month of June:

• Median Sales Price increased 17.5% to $210,000

• Days on Market decreased 34.5% to 74

• Percent of Original List Price Received increased 2.5% to 97.5%

• Months Supply of Inventory decreased 25.0% to 3.6

 

 

 

 

 

 

 

Well summer is in full swing & I realize that it's been awhile since I posted anything.  I was crazy busy in June - now business is manageable again.  I ran across this article that has the top Retirement cities listed.  Thought you might find it of interest.

Seven Florida cities are among the top-ranked retirement hot spots for real estate investing, according to a new report by Realty Trac. The rankings were determined based on the annual percent change in home prices as of May 2013. Dunnellon, Fla., was the top ranked city on the list, where 38 percent of the population is retirement age or older, and home prices jumped more than 31 percent over the past 12 months. Other Florida cities on the retirement list include, Naples, North Fort Myers, Punta Gorda, Sun city Center, Venice and Orange City.  Two cities each from Arizona and California also made the list as well as locations in Arkansas, Pennsylvania, Oregon and New York.
The report also finds that 40 cities nationwide had at least one-third of its population over the age of 65. Among those 40 cities, 25 posted annual increases in median home prices, and 27 had a positive capitalization rate, which indicates that rentals in those markets generate positive cash flows.
CRS Connect Blog   By Regina Ludes, Monday, 8 July 2013 - 10:43am

Here's an article posted yesterday to the CRS Connect Blog (Certified Residential Specialist).  More good news.  Home prices up 7.3% in 2012 & expected to continue to rise.

U.S. home prices rose 7.3 percent in 2012, the strongest rate of appreciation in seven years, according to the latest Core Logic Case-Shiller Home Price Index. Home prices will continue to grow in 2013 but at a decelerated rate of 2.5 percent. Through the fourth quarter of 2017, home prices are projected to increase an average of 3.9 percent per year every year.
The largest year-over-year price gains were recorded in some of the metro areas that were most affected by the housing bubble, including Phoenix where prices rose 23.8 percent in 2012, Miami which increased 14 percent and Las Vegas at 13 percent. In addition, price declines moderated in locations with lagging recoveries, such as Long Island where prices fell 4 percent and Virginia Beach, Va., where prices fell 2 percent.

By Regina Ludes, Monday, 20 May 2013 - 10:28am